Research and Markets offers new report on the global pipe coatings market

Research and Markets has announced the addition of the ‘Global Pipe Coatings Market 2016 - 2021’ report to its offering.

Over the past few years, there has been tremendous upsurge in pipeline construction especially in North America in response to the rising shale oil and gas production, resulting in large scale switch from coal to gas power generation.

Pipeline coatings production has in effect, increased manifold. However this exponential growth is unlikely to sustain for long, owing to the dramatic collapse in oil and gas prices to below US$40/bbl. Some 59 oil and gas producers have filed for bankruptcy since January 2015, reducing pipeline traffic and consequently pipeline operators' revenues and growth prospects in areas of US.

Moreover, the infrastructure and construction industry has witnessed tremendous growth, which has resulted in greater demand for pipelines especially in thriving economies of Asia Pacific. Increasing agricultural activities and alarming water crisis in India and China has elevated the need for water transport and hence boosted the pipeline industry. Overall trend shows moderate to high growth rate for pipe coatings in residential, agricultural and industrial applications in these regions.

Oil and gas industry, a major market driver for pipeline coatings, is expected to have a stiff competition from renewable alternatives in traditional markets.